The United States has released several economic data points that have significantly influenced Gold trading on Thursday (March 13, 2025).
The Producer Price Index (PPI) for February came in at 3.2% year-on-year (YoY), which is lower than the forecast of 3.4% YoY from Trading Central and down from 3.7% YoY growth observed in the previous month.
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The core PPI, which excludes the volatile energy and food sectors, recorded a growth of 3.4% YoY, falling short of the predicted 3.5% YoY.
Additionally, weekly unemployment claims in the US were reported at 220,000, significantly less than the forecasted 230,000.
Following these releases, Gold prices surged, approaching a daily high of 2,949 per troy ounce.
The lower-than-expected PPI growth could signal that inflation (Consumer Price Index/CPI) may ease in the future. This scenario could provide the Federal Reserve more leeway to lower interest rates, creating a positive sentiment for Gold.
On the other hand, the US dollar remains relatively stable in response to these data outputs. The EURUSD, which had reached a four-month high, experienced a profit-taking pullback, leading to a decrease. Meanwhile, GBPUSD remains robust near its four-month high, and USDJPY is not far from a five-month low.
